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Pyramid Technoplast IPO has received a strong response from investors. The issue had been subscribed 9.36 times by August 22 afternoon, the final day of bidding
Pyramid Technoplast IPO shares were available at more than 10 percent premium over upper price band, in the grey market, analysts said on anonymity.
Among the top additions for mutual funds in the small cap space were Eric Lifesciences, PVR Inox, CreditAccess Grameen, Amara Raja Batteries and Aegis Logistics
Indian equities rallied to a record high on the back of positive Q1 earnings from some counters and strong global cues. However, on Friday, the market may be influenced by Infosys. Market analysts believe if the index fails to surpass the 20,000 level, investors may engage in profit-taking.
Indian equities closed on a strong note, with the Nifty gaining 1% and IT, auto, and PSU banks leading the market. Analysts attribute the positive momentum to strong inflows from foreign institutional investors, positive developments in the HDFC merger, and a narrowing current account deficit. Globally, investor confidence was boosted by positive economic data from the US and successful bank stress tests. Key support zones for the market are at 19,050 and 19,000, while resistance areas are at 19,300-19,400. The Bank Nifty is likely to continue its breakout trend as long as it stays above 44,30...